JSE-listed Adapt IT Group expects headline earnings per share to be between 16.19 and 18.49 cents for the year ended June 2012, from 11.46 cents in 2011.<\/p>\n
The group anticipates earnings per share to be between 16.22 and 18.50 cents, compared to the earnings per share of 11.36 cents in the prior year.<\/p>\n
In June 2011, Adapt IT reported revenue of R 180.9 million and an operating profit of R15.04 million.<\/p>\n
The board declared ordinary dividend of 2.84 cents per share, representing a four-times dividend cover.<\/p>\n
Adapt IT is made up of three subsidiaries – namely, Adapt IT, ITS Holdings and Apply IT – which provide a variety of specialised IT solutions and services across a range of business environments.<\/p>\n
In reporting its half year results, CEO Sbu Shabalala said that\u00a0Adapt IT Group continued to pursue its long-term strategy to deliver sustainable above average returns to\u00a0shareholders by focusing on a combination of organic and acquisitive growth.<\/p>\n
The group purchased BI Planning Services effective 1 January 2012, to enhance its product\u00a0offerings and provide access to customers within the Financial Services Sector.<\/p>\n
“The group will\u00a0seek further significant earnings enhancing acquisitions.\u00a0The group continues to grow its footprint in the broader African and International markets and maintains its tight\u00a0focus on improving profit margins, seeking greater operational efficiencies\u00a0and engaging positively with all its\u00a0stakeholders in order to meet their expectations,”\u00a0Shabalala said.<\/p>\n
“We envisage the second half of the year to remain challenging, however, we are favourably positioned to take\u00a0advantage of the opportunities presented by our markets,” he added.<\/p>\n
For the interim period, revenue increased by 8% to R92.3 million and profit from operations was 12% higher at\u00a0R7.2 million.<\/p>\n
Shares in Adapt IT declined 5 cents to R1.05 on the JSE, shortly before 13:00.<\/p>\n
The group expects to publish its results on about 21 August 2012.<\/p>\n
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